Morning Report Tuesday 11 August 2015
With reporting season now in full swing and volatility high in both indices and individual stocks, it’s important to keep a close eye on events as opportunities present themselves. Last night we witnessed strong moves from both the American and European Indices, our preferred scenario is still for fresh 2015 highs from these and Japanese Indices. However the recent significant weakness in the local banking sector is likely to put a lid on the ASX200 at around ~5650.
• The Australian Banks are down 4.7% over the last 5 days, with ANZ the worst, down 6.4% (note its recent capital raising).
Market Matters is involved in some of the largest movers at present, unfortunately in both directions. It’s very important to not only enjoy our winners, but to discuss and plan around stocks that are currently losing us money. A phrase we like is simple, but accurate:
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